<aside> <img src="/icons/reorder_gray.svg" alt="/icons/reorder_gray.svg" width="40px" /> Tape Reading session / NDOG / RTH Gap / Open float

</aside>

NDOG is the difference between the closing price at 5pm and the opening price at 6pm. You want to have that marked and extended in time because the algorithm will reprice to it multiple times.

You can see how it worked its way around the NDOG.

So since we've made our way all the way down to NWOG, our internal dialogue is, are we looking to go below it because we've already explored price above it and the previous NWOG and we have repriced significantly lower from that. Now what we are looking at is do we have the interest to see it delft below 4099.50.

Everybody think s it's that it's it's an easy jump on and get short because of what we've already seen pre-market before 9 30. And it's all on the heels of the news embargo lifting at 8:30.

✍ Opening range gap (RTH gap) is from 4pm to 9:30am.

Retail will see this big move down and will think "Oh wow, lets short”. People that chase a big move like this, and try to enter at the opening bell are often been punished. They will put their SL on the most recent High. So we grab that high and we draw rectangle from there to the beginning of the Gap.

ICT is not suggesting we're going to go all the way back up there but at least for the morning session trading the opening range which is the first 30 minutes of trading.

Because we have moved so far, so so far from yesterday's close and where we are now the opening range Gap. When it's this big it makes the very first half an hour, 45 minutes very tricky. So we treat it much like when we have a big range day. Say we have large overnight run that just explodes and whether it's going up or down that matters not. The morning session can be tricky. It can be choppy. It can go back and forth take out buyside, take out Sell side.

And then later on, it could be right before lunch in New York time around 11 o'clock, then it'll start a run that generally goes under the radar of most retail Traders. They don't see it when it starts. And then the afternoon will be a better trading opportunity so what I like to do is I sacrifice this morning session and I lean heavily on the 13:30 till 16:00.

We are not making the case that we are going right away up, but we keep it in mind that that’s something the market might consider revisiting. The only thing to negate that is if we simply crash from here. Then this range will be just a breakaway gap.